What to Watch in the Day Ahead - Wednesday, July 22

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Dow component The Coca Cola Co, the world's largest beverage maker is likely to report
second-quarter revenue above analysts' average estimate, according to Thomson Reuters StarMine.
Coke has called 2015 a transition year as it attempts to figure out how to increase soda sales.

Boeing Co posts second-quarter results. The company on Friday said it will take a $536 million
after-tax charge related to its aerial refueling tanker for the U.S. Air Force. The commercial
aircraft business will still show strong underlying growth, after delivering 381 commercial jets
in the first half, more than half of its annual target of 750-755 jets. The company also
announced that EVA Airways plans to buy 24 to 26 Boeing 787 jets for around $65 billion at
listed price, with delivery slated for 2018 to 2019.

Chipmaker Qualcomm Inc is expected to announce that it plans to conduct a strategic review that
may include a breakup of the company, the Wall Street Journal reported on Monday, citing
sources. Qualcomm is also expected to cut the jobs of several thousand employees. It is expected
to report third-quarter revenue marginally below estimates, according to Thomson Reuters
StarMine, hurt by the loss of a key customer and delays in product launches by some Smartphone
makers would hurt sales of its flagship Snapdragon chips. Qualcomm's dominance in LTE chips is
also eroding, according to a recent study, as Smartphone manufacturers increasingly look to make
their own chips or opt for chips from smaller Asian competitors.

American Express Co, the world's biggest credit card issuer is expected to report second-quarter
results in-line with analysts' estimates, according to Thomson Reuters StarMine. Investors will
keep an eye on AmEx's plans to prop up revenue, following the loss of its exclusive tie-ups with
Costco and JetBlue. AmEx's CEO had indicated that the company might cut jobs to improve margins
and achieve previously set moderate-to-long-term targets, as it faces cut throat competition
from Visa and Mastercard.

The National Association of Realtors releases U.S. existing home sales data. Home sales, which
reached its 5-1/2- year high in May are expected to have risen 1.2 percent at an annual rate of
5.40 million units in June. (1000/1400) Separately, the Mortgage Bankers Association issues its
seasonally adjusted index of mortgage application activity. (0700/1100)

Abbott Laboratories Inc will be reporting stronger second-quarter profit as sales at the
company's three biggest business units - nutritional products, diagnostic products and
pharmaceutical products - increased. Abbott is expected to reap the benefits of its nearly $3.4
billion acquisition of Chile's CFR Pharmaceuticals and its generic drugs, which expanded the
drugmaker's reach in Latin America and emerging markets, areas that Abbott considers to be key
to its growth. Analysts will be looking to see if the company, which gets nearly 70 percent of
its revenue from outside United States, is able to keep the 30-percent-plus growth rate it has
seen in branded generic sales.

Chipmaker Texas Instruments Inc is expected to report second-quarter profit above average
analysts' estimate, according to Thomson Reuters StarMine. Texas Instruments has been winding
down its unprofitable wireless business and focusing on its analog and higher margin embedded
chips business. However, the company has also been impacted by slowing demand for PCs. Investors
will be looking for impact of weak PC market on the results and the third-quarter forecast.

Data storage products maker EMC Corp is expected to report second-quarter profit below average
analysts' estimate, according to Thomson Reuters StarMine. The company, which slashed its
full-year revenue and profit forecasts in April, is struggling with slowing sales growth in its
main data storage products business. The company on July 9 completed the acquisition of
privately held Virtustream which it had agreed to buy for about $1.2 billion to expand its cloud
offering. Investors will be looking for third quarter forecast. Separately, SanDisk Corp is
expected to report a second-quarter revenue slightly below market expectations, according to
Thomson Reuters StarMine. The company has been struggling to meet demand for its memory chips
and solid-state drives. It has also been grappling with lean inventory and lower pricing,
forcing it to slash revenue forecasts. Investors will be looking for management commentary on
the outlook for the remainder of 2015.
Continued...